eBay Acquires NFT Marketplace KnownOrigin, For Tech-led Reimagination

nft, ebay, ebay nft knownorigin

KnownOrigin is a well-established marketplace for non-fungible tokens (NFTs), and eBay, the e-commerce company, has recently purchased the company. This shows that eBay has truly and completely embraced NFTs.

Although eBay claims that the companies have signed and finalized the deal as of June 21s, the financial details of the transaction have not been made public.

eBay NFT KnownOrigin

eBay is continuing to expand its reach in NFT as part of their tech-led reimagination for the company.

According to Engadget, eBay CEO, Jamie Iannone, stated in a statement, “eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital collectibles.”

Last year, eBay made its initial foray into non-fungible tokens (NFTs).

Engadget reported that in May of 2021, it opened up its platform to sellers who could meet the requirements set by the company for the sale of NFTs.

During that time, the company stated that it would expand its platform with additional capabilities that enable blockchain-driven collectibles.

CoinDesk reports that since 2018, KnownOrigin has been operating as a platform that provides artists with the opportunity to create and sell their artwork as NFTs in exchange for cryptocurrency payments.

KnownOrigin has been responsible for facilitating NFT transactions worth a total of $7.8 million since it was first launched.

In February, crypto venture capital firms GBV and Sanctor Capital led a Series A funding round that helped KnownOrigin raise $4.3 million.

KnownOrigin was founded with the mission of empowering artists and collectors by launching a platform that would allow them to showcase unique artworks, sell them, and collect them.

KnownOrigin’s co-founder, David Moore, stated that as more people become interested in NFTs, the company believes it is an ideal time for a strategic partnership with a business that has the same level of reach and expertise as eBay.

Moore stated, “This is the start of a new chapter in the KnownOrigin story and we couldn’t choose a better time to focus on building and innovating with the team at eBay.”

He then added, “This partnership will help us attract a new wave of NFT creators and collectors.”

eBay’s NFT

Last month, in May, eBay released its first NFT collection in partnership with the Polygon-based NFT marketplace, OneOf.

Even though EBay’s CEO, Jamie Iannone, had been hinting at the possibility of integrating the technology for months prior, the company did not make its interest in digital collectibles official until the beginning of May.

The hockey-themed NFT release of 13 limited-edition digital collectibles. Each of these collectibles features a 3D-animated render of the legendary hockey player Wayne Gretzky.

According to the previous report by CoinDesk, eBay’s NFT prices ranged from $10 to $1,500. The NFTs that were released also featured legendary ice hockey player Wayne Gretzky.

With this current acquisition, it is clear that the e-commerce company is planning to continue their expansion into the blockchain, particularly by delving into NFTs.

It is safe to assume that customers can further expect further NFT action from eBay.

News Related

OTHER NEWS

Kia Forte ranks number one in its segment in J.D. Power 2022 U.S. Initial Quality Study for fourth consecutive year

Five Kia Vehicles Take Second Place in Their Respective Segments A wide cross-section of Kia America’s world-class SUVs and sedans received high marks in the J.D. Power 2022 U.S. Initial ... Read more »

Sonos vs. Google patent war is back on, but only for a few Pixel users

Some Google products still infringe Sonos patents, even after Google made changes Read more »

JD.com extends access to Tencent’s WeChat for three years with US$220 million in stock

JD.com, China’s second largest e-commerce player, has extended its partnership with tech giant Tencent Holdings for three more years in a deal that will continue to give WeChat users easy ... Read more »

How to fix a Fire TV Stick remote that’s not working

There are many reasons that your Amazon Fire TV Stick remote might not be working correctly. We will cover all of these issues and show you to to resolve them, ... Read more »

SoftBank-backed Lenskart acquires Japan’s Owndays

ETtechLenskart, the SoftBank-backed omni-channel eye-wear retailer, has picked up a majority stake in Owndays – Japan’s direct-to-consumer eyewear brand – the company said. The strategic partnership through this merger will ... Read more »

India's Fitmint raises $1.6M seed funding led by General Catalyst

In its maiden fundraising round, Bengaluru-based move-to-earn startup Fitmint announced Wednesday it has raised seed funding of $1.6 million from multiple venture capital firms and institutional investors. This seed fundraising ... Read more »

NFT Giant OpenSea Shares 5 Safety Recommendations as Users' Emails Leaked

Source: AdobeStock / JorgeEduardo Major NFT marketplace OpenSea warned their users that their emails have most likely been leaked and reminded them of 5 recommendations on how to protect yourself ... Read more »

Xiaomi concludes its 2022’s Security and Privacy Awareness Month

Xiaomi concluded its month-long Security and Privacy Awareness Month today (30 June 2022). This is the third consecutive year where the Internet of Things (IoT) and smartphone company gathered its ... Read more »

OnePlus 10T 5G To Launch In 2 Awe-Inspiring Colors In India & Globally

The OnePlus 10T 5G smartphone’s color options for India have been tipped. OnePlus will reportedly launch the handset later this year. The OnePlus 10T has been subject to a lot ... Read more »

Siemens and Nvidia to enable industrial metaverse

Siemens and Nvidia have announced an expansion of their partnership to enable the industrial metaverse and increase use of AI-driven digital twin technology that will help bring industrial automation to ... Read more »

Tata Technologies joins Foxconn-initiated MIH

Tata Technologies, a subsidiary of Tata Group, announced that it had joined the Foxconn-initiated MIH consortium, the third company under Tata Group to join MIH. According to Foxconn’s press release, ... Read more »

VMware shifting to subscription-based biz model

VMware is shifting to a subscription-based business model and will launch vSphere+ and vSAN+ at the end of July 2022, according to the company at an online Asia Paciifc press ... Read more »

Indonesia's Mapan secures $15M Series A funding co-led by Patamar Capital and PT Astra Digital Internasional

Mapan, an Indonesia-based FinTech startup, announced Tuesday it has closed a successful Series A round of $15 million co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of ... Read more »

Apple: 2022 MacBook Air M2 to Release by July 15 According to Sources

Apple is looking at releasing its 2022 MacBook Air in the coming weeks, and it will feature the famous M2 Silicon chip that the public has asked for a long ... Read more »

5 Reasons Why The Xiaomi 11T Pro Is Still A Great Buy In 2022

Summary The Xiaomi 11T Pro was launched back in September 2021, and almost a year later, it is still one of the best flagship-class devices you can get for the ... Read more »

This full-body haptic suit has ruined the Oculus Quest 2 for me

My regular VR headset isn't good enough anymore Read more »

Xbox Series X players, you can make the Share button do so much more

Remap your world Read more »

DataVan's smart solutions empower retail industry to meet new demand from new normal

As countries continue to lift lockdowns, people’s lives and business activities will soon recover while the world enters an era of coexistence with the virus, or so-called the “New Normal.” ... Read more »

E-commerce Giant Ebay Files Trademark Applications Covering Wide Range of Metaverse, NFT Services

E-commerce giant Ebay has filed two trademark applications covering a wide range of products and services relating to the metaverse and non-fungible tokens (NFTs). Ebay’s NFT, Metaverse Trademark Applications Ebay ... Read more »

Realme GT Neo 3 150W Thor Love and Thunder India Launch Teased

The Realme GT Neo 3 150W Thor Love and Thunder Edition could be headed to India soon. The teaser has now surfaced online. Realme VP Madhav Sheth has hinted at ... Read more »

Brazil wants mandatory USB Type-C ports on smartphones

The EU regulators already decided to make USB Type-C the mandatory standard for small and medium-sized electronics from 2024. The list clearly includes smartphones and has been putting pressure on ... Read more »

Beer made from recycled toilet water wins admirers in Singapore

“NEWBrew” is no ordinary beer. The new Singapore blond ale is made with recycled sewage. The alcoholic beverage is a collaboration between the country’s national water agency, PUB, and local ... Read more »

Amazon takes the lid off the deals members can expect on Prime Day 2022

Amazon's largest shopping event, Prime Day, will kick off 48 hours of deals from 12am on 12 July. But as we get closer to the date, we are getting more ... Read more »

EU reaches agreement on crypto regulation requiring personal data collection on every transfer

The European Parliament and Council reached a provisional agreement to force crypto providers to provide identifying information on all digital asset transactions, despite an industry backlash. The so-called transfer of ... Read more »

Has RadioShack's Twitter Account Been Hacked?

“If you find a squirter marry her.” (Photo : PAUL J. RICHARDS/AFP via Getty Images)People walk past the Radio Shack in downtown Washington, DC, March 16, 2017, one of the ... Read more »

Canadian Affiliated With NetWalker Ransomware Group Pleads Guilty to Hacking Charges

A Canadian who previously worked as an IT expert for the Canadian government has pleaded guilty to being a high-level hacker. He also admitted to being a member of a ... Read more »

Amazon Prime Day 2022: Shopping Tips and Tricks

Amazon Prime Day 2022 is fast approaching. Prime Day will start on July 12 at 3 am ET and will run through July 13. This marks Amazon’s eighth shopping event ... Read more »

Nothing phone (1) is coming with Snapdragon 778G+ after all

Carl Pei’s big goal with Nothing was finally revealed when he announced the Nothing phone (1) arrival. Now, we know that Pei wants to bring a smartphone that has the ... Read more »

iQOO 10 BMW variant’s render surfaces in the wild

iQOO is gearing up to introduce the iQOO 10 and 10 Pro in the next month. These devices are likely part of Digital Chat Station’s claims that there will be ... Read more »

LG launches new series of OLED TVs in Taiwan

LG Electronics has launchednew series of OLED TVs, including its Objet lineup, in Taiwan, aiming to ramp up the sale value of OLED TVs by 30% in 2022 compared to ... Read more »

US SEC rejects Grayscale's spot bitcoin ETF

ReutersThe US securities regulator on Wednesday rejected a proposal to list a spot bitcoin exchange-traded fund (ETF) by Grayscale, one of the world’s biggest digital asset managers, on the NYSE ... Read more »

Summer electricity demand forecast to perk up over heat wave

SEOUL, June 30 (Yonhap) — South Korea’s electricity demand over this summer is forecast to rise higher than the level a year earlier due to hotter-than-usual weather conditions, the industry ... Read more »

Infinix 180W Thunder Charge system coming soon

Back in the last year, Infinix took to the headlines due to a prototype of a smartphone with a 160W fast-charging system. At that time, it was one of the ... Read more »

China's first 1-mln-kilowatt-grade onshore wind power project put into operation

The wind power project is capable of generating over three billion kWh on-grid electricity per year. /China Media Group A giant onshore wind power project with a generation capacity of ... Read more »

Hydrogen-powered lorry to be mass produced by Essex fleet operator

The 7.5 tonne truck can be drive for over 300 miles, according to Tevva. Diesel lorries will be banned in the UK by 2040 and the transport minister said hydrogen trucks will be "vital". Read more »

Amazon restricts LGBTQ products in United Arab Emirates

APAmazon moved to restrict items and search results related to LGBTQ people and issues on its website in the United Arab Emirates on Monday after receiving pressure from the government ... Read more »

Google’s ‘fast track to surveillance’ sparks backlash from European consumer groups over ‘deceptive’ practices

Google came under attack from European consumer groups who accuse the US giant of putting users on “a fast track to surveillance” when they sign up to an account. The ... Read more »

PS Plus free games: Free PS5 and PS4 games for July 2022 revealed

© Provided by BGR PS Plus free games for July 2022. Sony’s new tiered PlayStation Plus memberships might be confusing, but the good news is that every tier still gets ... Read more »

Vibe Check: What Was NFT NYC Like Amid a Bear Market?

The crypto market tumbled downward for weeks leading into NFT NYC, but the line to pick up passes on the convention's first day still stretched hundreds of yards around the ... Read more »